Free Live Broadcast of the Social Media Optimization Summits Meet & Greet Tweet-Up
Mar 17th
Next week’s Optimization Summits Meet & Greet Tweet-Up, Sponsored by For Rent Media Solutions, will be webcasted live online and FREE, featuring interviews with several of our Workshop Leaders! Monday March 22 6:30pm central time. Register today!
Social Media Optimization Summits Meet & Greet Tweet-Up
Not able to travel? You can still join us for a portion of our Optimization Summits event live and online! We’re webcasting from the Meet & Greet Tweet-Up, sponsored by For Rent Media Solutions, from 6:30-7:30 pm central on Monday, March 22nd! Sign up to receive your FREE username and password for access!
Hosted by Tami Siewruk, the webcast will include interviews with several of our Workshop Leaders, including Jason Falls, Mack Collier, Chris Penn, Erica Campbell, Mark Juleen, Duncan Alney, Brent Williams, Charity Hisle, and more!
Please note that each free registration will generate password access for only one computer (controlled by IP Address) and cannot be shared for access by another computer simultaneously. Attempting to share your username/password will result in cancellation of your access. Multifamilypro reserves the right to cancel scheduled broadcasts, should unforeseen technical difficulties arise.
Apartment Leasing: Lease To Anyone!
Mar 16th
It’s probably happened many times – someone comes into your leasing office and you think, “No one could lease to that person!” Well, in today’s competitive apartment leasing environment, you have to be able to lease to anyone. And, believe it or not, it can be done. All it takes is the right information and some resourceful techniques to turn a “no way” into an “okay!”
Thanks to Wendy Muse, Vice President of Education at Tarragon Management, Inc., and Lisa Trosien, President of ApartmentExpert.com, The “How to Lease to Anyone!” workshop at the Multifamily Brainstorming Sessions a few years ago where they shared, some of the most applicable tricks-of-trade when it comes to dealing with all types of customers. Here are just a few of the most familiar personalities they discussed and their original ideas for transforming these leasing challenges into signed leases.
Recognizing Different Types Of Customers
In A Hurry
What do you do when a person doesn’t have an appointment and just wants to run through some models quickly? Or what if he or she doesn’t have time to fill out a guest card? It’s time to think on your feet. Complete the guest card as you’re walking through the models – this saves time and allows you to get the information you need. You also can offer to e-mail a brochure to the visitor and suggest that he or she makes an appointment for a later time. Of course, the key here is to tell the person that you know and understand how valuable his or her time is. Make the process a convenient and enjoyable one, and you’ll have a better shot at closing the deal.
Personality Conflict
Sometimes you may just not click with someone. Your personalities don’t mesh, and it doesn’t look like you’ll be able to work together. In this situation, if you can make a graceful handoff to one of your colleagues with a “Why don’t I have Susie show you our model” or “John will be happy to take you through the paperwork,” go ahead and do it. If this isn’t possible, take a moment to read the person’s body language (such as crossing his arms, leaning forward, or standing at a distance) and see if you can mirror it. This is a diplomatic sign of respect that might help you ease the tension and move away from potential conflict. Of course, you can always grin and bear it. Put on a big smile and do your very best to serve this customer. That’s your job, and you just need to give it your best.
Disabled
When someone in a wheelchair visits your property and your models are on the second floor of a walk-up building, don’t immediately think that you won’t be able to lease to this individual. According to Muse and Trosien, it’s a good idea to have virtual tours available, either via a video in the office or on the Internet. Another option is to show the person a market-ready apartment on the first floor of the building. Yet, the most important approach is to discuss the person’s needs in detail, never assuming what the person can or cannot handle. From your prospective customer’s input, you will be able to tailor a presentation to his or her needs.
Blind Or Hearing Impaired
If a blind person visits your property, it is important to introduce yourself immediately. This person wants to know who he or she is speaking to, and you don’t have time to play guessing games. Oftentimes, someone who is blind will have a lead dog or a companion. In these cases, refrain from touching the lead dog, and be sure to talk directly to your future renter – not through the companion. Furthermore, never touch a blind person without speaking first; you don’t want to startle him or her. Then, as you begin your tour, use the “sighted guide technique,” walking beside the person with your hand on his or her arm and giving explicit directions as you move through the apartment.
For the hearing impaired, the rules of engagement are clear-cut. First and foremost, do not turn away from the person you are speaking to; that individual needs to read your lips. Therefore, also be sure that you don’t cover your mouth while you’re speaking. Keep the volume of your voice at a normal level – you don’t have to shout for a hearing impaired person to understand you. Finally, don’t over-enunciate, and don’t hesitate to rephrase what you or the potential customer has said to make sure that you’re on the same page.
Looking Way Into The Future
If you think that talking to or showing models to someone who doesn’t plan to sign a contract for at least six months is a waste of time, think again. These people are potential customers, and the best way to deal with them is to treat them like every other client. To start, don’t hesitate to show them a model. If they show interest, this is a great opportunity to put them on a waiting list – a skillful way to make sure that there is a unit waiting for them when they’re ready to make a move. You also should put them on your e-mail or newsletter list, as this is a quick and easy way to stay in touch over time. In addition, if you have planned a resident function for the near future, invite these potential residents to join in the festivities. This kind of personal service will keep your property in the forefront of their minds.
Pet Owners
People’s pets are often like their children. Most people will not move without their pets, so if your property accepts them, you’ve already earned points with pet owners. You can net even more points by catering to pets, keeping pet items in the model and making sure that the property is a welcoming place for someone’s precious pooch or frisky feline. If you don’t take pets, you might want to consider changing your position; a “no pets” policy can eliminate 60 percent of your prospect base. However, if you are determined to operate a pet-free complex, be sure to talk to prospective renters about the consequences associated with a violation of your policy. You don’t want to anger a renter by delivering an unexpected penalty.
From Out Of State
Moving is a daunting experience, and moving from out of state is even worse. These renters face a higher level of anxiety than most customers. By letting them know that you are a true professional and that you have their best interests at heart, you’ll immediately create a comfort zone. It’s important to be willing to help these clients get acclimated to their new environment, so it’s good idea to have some information about the surrounding areas in the leasing office. Additionally, renters who are moving from an inexpensive area to a more pricey location can experience a bit of a culture shock. In this case, promote the value of the apartment, not the price.
Getting Divorced
When dealing with someone who needs an apartment because he or she is getting divorced, it is crucial to be empathetic and flexible. This individual may have some unusual requests, such as asking you not to call him or her at home (maybe because the other person in the relationship doesn’t even know about the divorce yet). You must label your guest cards clearly to ensure that you don’t make a mistake. Then, let the renter know that his or her privacy is of the utmost importance, and that you will do everything in your power to make sure that the entire process is discreet. And for those people who don’t want to sign a lease right away because they are working on their marriage and might need to get out of a contract, you can discuss the different leases you offer, as well as any out clauses you may have.
Language Barrier
The Hispanic population is one of the fastest growing market segments for the multifamily housing industry. Therefore, it’s a great idea to have a bilingual person on your staff. If you’re not adding to your staff right now but need to be able to communicate with prospective renters for all different ethnic backgrounds, have a list of key phrases in a variety of languages handy (Berlitz Travel Guides are a good resource for this). But be careful – many languages have a number of dialects. Some of these vernaculars are not pure versions of a language; in fact, they’re often called “slanguage.” Because of this, don’t depend solely on Internet translation sites like www.freetranslation.com or www.babelfish.com. Members of our group suggested that you turn to local translators or even high school or college students to help with proper translations.
Overcoming Objections
Ultimately, there will be any number of different personalities walking through your door. Your job is to listen to the needs of everyone you meet and try to resolve any issues they may have. Some people undoubtedly will have objections, and you have to find ways to overcome them. Wendy Muse and Lisa Trosien suggest that you approach an objection with the following steps:
· Be prepared
· Present it first
· Qualify it
· Present the other side
· Admit it and move on
Whether it’s a bedroom that’s too small or appliances that are too old, your job is to help customers figure out which features mean the most to them and then show them how your property really does fulfill their requirements. You have to promote all of the great benefits your property offers and let renters know that they arrived home when they walked through your door.
Part Three: Review the Apartment Leasing Process
Mar 2nd
Essential Steps of the Leasing Process
1. Effectively handle all requests for information about your community, including telephone,email, Internet and regular mail inquiries, with the goal of developing a relationship in order to persuade the future resident to visit the community personally and ultimately lease.
2. Meet and greet future residents (at the front door if possible). Offer your hand, start building a relationship if this is the first contact, offer your help, and offer a comfortable chair and refreshment.
3. Learn to develop rapport and build a relationship. The basics are fairly simple and include smiling, using the future resident’s name, saying please and thank you when asking for information, showing interest in the future resident’s needs and wants, and letting the future resident know what his or her options are. Focus all your attention on the person or persons in front of you!
4. Qualify future residents without interrogating. Determine their needs and wants before you start asking for the information that you need to complete the guest card.
5. Complete the welcome/ guest card for each future resident without making them feel like they are being interrogated; while collecting the information you need to stay in touch and satisfy the leasing criteria for your community, and track the marketing source.
6. Present/show/demonstrate the model (if the community has one) and an available apartment. Demonstrate to the future resident the amenities that they are interested in such as the fitness center, pool area, tennis courts, business center and so on. Discuss the community, Management Company, service department, special services, location and so on. Maintain a focus on those features and benefits they are most interested in.
7. Develop complete product knowledge of every floor-plan within your community! Show all closets and added storage spaces, present square footage of both living areas and storage space, furniture placement possibilities and options, and special extras like how many hangers can be hung in each closet, views, and added functions of all included appliances. If your community offers custom home upgrade options or other extras such as special telephone systems or additional lines, Internet access, renters insurance, etc., explain the programs and possibilities. Be alert for objections and be prepared to overcome them while you continue to build the relationship.
8. Learn and apply the finer points of closing by invitation and persuading the future resident to become a resident in your community.
9. Invite the future resident to complete the rental application or offer to fill it out for them. Introduce the future resident to other team members if possible, or at least offer the business card of the manager or community concierge (if your community has one) and complete any additional paperwork necessary. Once the future resident has filled out the rental application and has signed it, collect the application fee and security deposit.
10. Verify the information on the application and check the applicant’s credit, then present it to the Community Manager for approval or denial of occupancy.
11. Follow up with the future resident by sending a thank you or welcome card or letter. Once the application has been verified and approved, provide the future resident with the numbers to call for water, cable, Internet access, newspaper, electric, gas and telephone services; their new address; and the amount of rent that will be due upon move-in. Many communities today offer to make utility and service connection calls for the resident as an added value service. Keep in mind that the relationship leasing process includes making certain that the new resident understands every detail of the move in process and has no surprises from the signing of the lease on.
12. Complete all move-in paperwork. Make certain that the apartment door locks have been re-keyed and the appropriate keys to the apartment and mailbox are ready for move-in day. File all paperwork in appropriate files. If the future resident did not lease, follow up by writing a thank you note, sending post cards, mailing or e-mailing further community information…and always make at least two follow-up telephone calls. Continue the follow up process until the future resident has leased in your community or in a competing community. If the future resident chooses a competitor, determine why they selected that community rather than yours, and especially how the other community better satisfied their needs and wants. Keep a record of this information.
13. Be intimately familiar with other local communities – this includes both competitors and those owned or managed by your own company. If you can’t help a future resident, always refer them to another community that can. By keeping a set of brochures on these communities close at hand, you can then offer the future resident the information they need, and even call the community to set up an appointment. This will go a long way in establishing a rapport with these other communities that will, in time, lead them to do the same for you.
14. Recognize that knowledge is your key to success in each of the steps and areas addressed above. This includes knowledge of the relationship leasing process as well as product knowledge. The more you know, the more you’ll grow. Remember also that knowledge isn’t a static entity. It’s the product of learning, which needs to be a life-long and career-long process. The more you continue to learn, the more you’ll continue to grow as a professional.
Continue this series of Relationship Leasing articles by receiving our Active Learning Emails
Part Two: Review the Apartment Leasing Process
Mar 2nd
Anyone Can Lease Apartments
If you can read this, you can lease. If you have the desire to, you can lease. If you learn, practice and apply the necessary skills, you can lease! Leasing is just like riding a bike, playing tennis, and swimming, using a computer or any other skill that can be acquired. You can learn the skills necessary to be a successful leasing professional, and I promise that it isn’t even as difficult as it might appear!
Succeed with Confidence
When you rode a bicycle for the first time, you might have been afraid of falling and scraping your knees on the sidewalk. When you entered the swimming pool for the first time, you might have been afraid of going under. When you took your first tennis lesson, you may have become frustrated because it wasn’t as easy as it looked. The first time you sat in front of a computer you may have been afraid that you were really going to mess something up or make some important bit of information disappear forever. Once you learned, practiced and applied the new skills that each of these pursuits required, you found out that they weren’t as difficult as they appeared at first! You learned that if you fell off your bicycle, you didn’t break into pieces. After a couple of gulps of pool water, you learned that if you relaxed a little, you could float and then actually swim! The same will hold true in Relationship leasing. You’ll find that even if everything goes completely wrong on some of your early attempts, you can pick yourself up and go on to make a great leasing presentation with the very next future resident!
Practice Makes Perfect
In learning to ride a bicycle, swim, play tennis, or use a computer, you probably developed the basic skills fairly quickly, and with a little practice, then became quite comfortable with the new activity. The same will hold true with relationship leasing. If you learn proven techniques, practice and apply, you’ll become very comfortable leasing in no time at all!
Of course, it’s also necessary to put those acquired skills into action with the right attitude. I’ve found that the perception of leasing as a “sales” business and the negative stereotypes attached to sales as a profession can make it difficult for leasing professionals to place themselves in a positive and confident mindset. The word sales makes many of us think of fast-talking used car sales people or some guy on TV selling snake oil, using every trick in the book to talk people into buying a car or gadget that they don’t really want at a price they can’t afford! In fact, sales has gained a pretty bum reputation over the years – great news for comedians and movie producers, but not so great for a sales professional’s self-image. Fortunately, there is absolutely no need to use fast talk and gimmicks to be successful in leasing apartments.
This series of articles is going to show you how to use the opposite approach — integrity, honesty, and an attitude that conveys a willingness to help the future resident — to show you not only how you can increase your closing ratio, but also how powerful this leasing strategy truly is. I’m not suggesting that you merely pretend to help the future resident or to be their best friend. I’m proposing that if you simply treat the future resident just the way you would want a salesperson to treat you if you were looking for an apartment, you’ll realize an immediate increase in your closing ratio, and will be well on the way to achieving your personal best!
The golden rule is only one important ingredient in leasing success, but the others are no more complicated. In this book you are going to learn that Relationship Leasing is the easiest way to succeed at increasing your closing ratio. You will learn how the Resident and the Future Resident’s needs and wants can actually help guide you through the leasing process. In addition you will learn how to work with the future resident as the most valuable key to closing the lease, instead of against the future resident as an opponent who must be “sold”.
I can just hear you thinking to yourself right now, “If this relationship leasing technique is so great then why aren’t more leasing professionals using it?” The answer is very simple: most of us don’t begin our careers that way, and the skills and philosophies that we absorb earliest in our training, when we are most impressionable, are those that tend to follow us for the remainder of our careers. Most of us begin our leasing careers focused on ourselves and our own performance – doing all we can to just get that lease! Instead of focusing on the needs of the future resident, you probably spent the first several months of your leasing career thinking I need to get all the information on this guest card or my supervisor is going to get mad at me. Can I get them to visit the community? Will they like what I show them? Can I convince them to lease? Can I even do this at all?
Once this initial fear has passed, new leasing professionals then tend to focus on the apartments, community and services – still largely missing the needs of the future resident. “Let me tell you about our great community.” “Our service is better than the competitions.” “ We have ______ & _______ & ________ and our competitors don’t.” The truth is, our future residents don’t care if we need to fill out guest cards or what you perceive to be your competitors’ shortcomings. They are much more interested in finding out if your community offers what they’re looking for in a new home, including the lifestyle that they expect or aspire to.
Don’t just think about the features and benefits of your community. Put yourself right in the resident’s shoes. What living solution can you really provide to them? What are your apartments and community going to do to make their apartment living experience better? And also, why should they even listen to you? In the remaining articles you will learn how to totally focus on the future resident; how to adopt the future resident’s perspective; how to build the future resident’s trust; how to get the future resident to not just be willing to listen to you, but to want to listen to you, and even to guide you right through the entire leasing process. We will also review each component of the leasing process in great detail and show you how you can put the relationship leasing approach to work. This article has been provided to give you a quick overview of the entire process. We’ll begin by addressing the basic steps involved in presenting your community to future residents. We’ll continue with a list of questions that we intend to answer along the way, with the ultimate goal of helping you to become the very best relationship leasing professional you can possibly be!
Review the Apartment Leasing Process
Mar 2nd
Part One of Three: Review the Leasing Process
Over the years, several different leasing approaches and philosophies have come and gone. Our industry has changed, and more importantly, so have the people we serve. Though many of the techniques that we used in the past are still valid, many others are no longer effective. Where people once wanted to be sold, they now prefer to be served, and today’s leasing approach must fulfill this desire in order to be effective. In other words, we are no longer in the business of simply selling the features and benefits of our apartments and communities. Today’s most successful leasing strategies call for demonstrating how those features and benefits are in keeping with the lifestyle expectations and desires of our future residents. The difference isn’t as subtle as it seems on the surface. Where it was once enough to simply close a lease on an apartment that met the future resident’s immediate needs; today’s resident wants and expects a longer-term commitment. If you really want to succeed in leasing apartments you must move beyond “leasing apartments” to helping the future resident solve their moving and lifestyle needs and wants.
Information is one of today’s most valuable commodities, and as a leasing professional, you possess a wealth of information about one of the most valuable decisions an individual can make — their choice of a home. Naturally, the future resident who has gone to the trouble of contacting you has done so because they want you to help them find the new apartment home that best meets their wants and needs. Needs are easy — most of the old leasing approaches can handle needs, hands down. Wants are a little more personal. Determining what they are requires that you win a future resident’s confidence; and satisfying them means that you’ll have to develop an effective rapport. As you can imagine, conveying a committed, resident-oriented attitude while successfully satisfying the future resident’s wants and needs requires a comprehensive approach. This approach is known as relationship leasing.
Focusing on the needs and wants of the future resident is only one of the skills that relationship leasing requires. Leasing Professionals must also develop the skills to exercise personal judgment, build a long-term relationship in order to improve resident retention, ensure the ongoing satisfaction of both residents and future residents, and connect with them personally as a true professional in the apartment home decision-making process. This means knowing your resident’s needs and wants, and then positioning your community, apartments and services to remain their number one choice.
Relationship leasing involves focusing on building a relationship with the future resident. Closing ratios and leases are increased because instead of pushing apartments, you are presenting a more comprehensive commitment to improve their lifestyle and serve them throughout their residency. Relationship leasing emphasizes the intangible side of every lease. It includes not only the apartment, community and services; but also the real value that each of these offers the resident, and what you personally bring to the mix.
Relationship leasing requires leasing professionals to understand where they are coming from, to maximize their strengths, to learn new skills, and to take full responsibility for managing the leasing process. It’s your responsibility in leasing to fully understand your future residents and how you can help them before you lease them an apartment. With Relationship leasing, you are in the driver’s seat at all times. You have a clear understanding of where you are in the leasing process and what it will take to have this person as your newest resident. The days are gone of closing hard, offering a concession and overcoming objections and then hoping for the lease. With relationship leasing, you create the relationship and mix in the leasing techniques that work. The rewards of being resident-focused are increased commitment, loyalty, referrals, and of course increased occupancy and reduced resident turnover! Relationship Leasing Professionals are top producers because they are connected to their Residents beyond the scope of their apartments and services, and way beyond their competition. The key to success in relationship leasing is to understand what happens during the future residents’ decision-making process and how you can positively influence their decision.
Relationship leasing helps you differentiate yourself from the crowd of competitors first by the approach you’ll take and finally by the results you’ll obtain. Your future and new residents will view you as a true professional expert. The relationship between resident and leasing professional is powerful, and it is your responsibility to foster that relationship so that both sides win. Many of you have already experienced the power of relationship building in the leasing process with future residents who have leased from you and prefer to continue to deal with you personally when they have a service request or a problem to be resolved. The reason for this is that you did a great job of relationship building in the leasing process!